Tullow shares lifted by Kenyan oil discovery

Tullow Oil shares have been lifted by news of an oil discovery in Kenya.

The company has climbed 34p to £15.07 after it said its first exploration well in a drilling campaign taking in Kenya and Ethopia had discovered light crude oil. Tullow's exploration director Angus McCoss said:

This is an excellent start to our major exploration campaign in the East African rift basins of Kenya and Ethiopia. to make such a good oil discovery in our first well is beyond our expectations and bodes well for the material programme ahead of us.